AWE Limited updates Indonesian ops
Monday, February 3 2014 - 04:28 AM WIB
North West Natuna PSC, Natuna Sea (50%)
The sale of a 50% interest in the Northwest Natuna PSC, including the AAL oil project, to Santos Limited was announced in August 2013 and completed in November. Handover of Operatorship to Santos and integration of the project team has been completed successfully.
Substantial progress has been made on FEED work for the well head platform and the joint venture is focused on contracting plans for the leased FPSO, which is a critical path activity to FID and first oil. Delays have been experienced in contractor pre-qualification and the joint venture is working closely with the regulator and potential contractors to progress this aspect of the project.
Bulu PSC, East Java (42.5)
The Bulu PSC joint venture has approved the Operator?s proposed 2014 work program and budget that comprises FEED and gas commercialisation studies for the Lengo gas field. A one year extension of the PSC exploration period has been approved by the regulator.
East Muriah PSC, East Java (50%)
The East Muriah PSC joint venture approved the acquisition of a 2D seismic survey over an area of 1,300 km2 to better define several prospects and leads.
Titan PSC, East Java (40%)
In the Titan PSC (AWE 40%, Operator), interpretation of 2D seismic data over 510 km2 in the northern part of the PSC area is under way.
North Madura PSC, East Java (50%) and Terumbu PSC, East Java (100%)
Farm-out of the North Madura PSC and the Terumbu PSC continues, with a number of local and international companies finalising their evaluations. The North Madura joint venture is currently evaluating options to drill an exploration well or acquire 3D seismic data.
Anambas PSC, Natuna Sea (100%)
A market study to evaluate the possible commercialisation of the gas resource located in the Anambas PSC has been completed and development feasibility is being reviewed.
Following the submission of AWE?s joint study of Central Sumatra shale gas opportunities in 2013, and subject to agreement with the regulator, AWE may formally apply for gazetting the proposed shale gas acreage in the next round of applications in the first half of the 2014 calendar year. (end of excerpt)